Europe winter tire market is expected to reach $ 18.8 billion by 2025 on account of stringent winter tire usage guidelines in the region. Winter tires or snow tires are designed for use in cold weather, ice and snow. These tires are manufactured with advanced rubber resins and compounds which help them to increase traction. Tires designed for winter conditions are optimized to drive at temperatures below 7?C and have tread design with bigger gaps. Implementation of winter tire laws and increasing purchasing power of consumers is expected to aid Europe winter tire market over the coming years. Moreover, growing safety concerns and increasing awareness regarding the benefits of using winter tires among consumers is forecast to boost demand for winter tires across Europe over the next five years.
Winter tire market in Europe can be segmented based on the vehicle type, demand category, rim size, radial vs bias and region. Based on vehicle type, the market can be segmented into passenger car, light commercial vehicle and medium & heavy commercial vehicle. Passenger car dominated the winter tire market in 2019 and the trend in likely to continue over the next five years due to high sales of passenger cars backed by high disposable income levels, growing safety concerns and increasing awareness regarding the benefits of using winter tires among consumers. Between radial and bias, radial segment accounted for the largest share in the market and the trend is likely to continue over the coming years as well.
Major companies operating in Europe winter tire recorded high sale volumes in 2019 and the trend is likely to continue during the forecast period. Key players operating in the region include Pirelli & C. S.p.A., The Yokohama Rubber Co., Ltd., Bridgestone Corporation, The Goodyear Tire & Rubber Company, Continental Aktiengesellschaft, The Yokohama Rubber Co., Ltd., Sumitomo Rubber Industries, Ltd., Compagnie G?n?rale des ?tablissements Michelin (CGEM), Hankook Tire Co. Ltd., Cooper Tire & Rubber Company, among others.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
- To analyze and forecast the market size of Europe winter tire market, in terms of value & volume.
- To classify and forecast Europe winter tire market based on vehicle type, rim size, demand category, radial vs bias and country.
- To identify drivers and challenges for Europe winter tire market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Europe winter tire market.
- To conduct pricing analysis for Europe winter tire market.
- To identify and analyze the profile of leading players operating in Europe winter tire market.
Key Target Audience:
- Original equipment manufacturers, suppliers and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to winter tire market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as winter tire manufacturers, suppliers, distributors and other stakeholders. The report would enable the stakeholders in strategizing investments and capitalizing on emerging market opportunities.
In this report, Europe winter tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, By Vehicle Type:
o Passenger Car
o Light Commercial Vehicle
o Medium & Heavy Commercial Vehicle
- Market, By Demand Category:
- Market, By Rim Size:
- Market, By Radial Vs Bias:
- Market, By Region:
o United Kingdom
o Czech Republic
Company Profiles: Detailed analysis of the major companies present in Europe winter tire market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).